The Beal Companies, LLP Seals the Deal on Eight Leases at One Kendall Square in Cambridge, Massachusetts
Business Wire -- The Beal Companies along with its partner Rockwood Capital purchased One Kendall Square, a 660,000 square foot biotech, office and retail complex, located in the premier Cambridge neighborhood of Kendall Square in April 2006. Kendall Square is home to the leading biotech and information technology firms, which benefit from the proximity of the M.I.T. campus only two blocks away. The pulse of Cambridge can be felt by visiting the area restaurants, shops, and hotels. The MBTA's Red Line Station at Kendall Square is a short walk from the complex or on site parking is available.
The Eight lease deals consist of three new leases, four expansions, and one renewal. The total square footage incorporates over 102,000 square feet of occupied space. The transactions were negotiated between the companies tenant representatives and The Beal Companies, LLP (the Landlord).
NEW!
Pervasis - Pervasis is developing cell-based therapies that induce repair and regeneration in a wide array of tissues. The company's lead products are based on our proprietary endothelial cell technology, shown to reverse vascular dysfunction and disruption broadly. The company just signed a lease for 8,329 square feet of lab.
NEW!
Merrimack Pharmaceuticals - An integrated biopharmaceutical company committed to the innovation of life-enhancing medicines for the treatment of auto immune diseases and cancer, signed a new lease for 31,747 square feet. Joe Flaherty of Meredith & Grew represented the tenant.
NEW!
Moshe Safdie & Associates - Internationally renowned architects, founded in Montreal, Canada, signed a new lease for 13,000 square feet. Peter Bekarian of Jones. Lang, LaSalle represented the tenant.
Renew
PricewaterhouseCoopers - Major international accounting and consulting firm which provides audit, assurance, advisory and tax services, renewed their lease on their 2,200 square foot office space. Steve Ernst of CLW Real Estate Services represented the tenant.
Expansion
Helicos - Bio Science company which specializes in developing instruments for high speed sequencing of DNA and RNA expanded into a 27,000 square foot space. Kevin Hanna of Cushman & Wakefield represented the tenant.
Expansion
Idenix - Is engaged in the discovery and development of innovative treatments for human infectious diseases expanded into a 12,000 square foot space. John Varholak represented the tenant.
Expansion
Codon - Privately held biotech company focused on enabling commercial applications of synthetic biology expanded into an 11,757 square foot space. Mark Winters of Cushman & Wakefield represented the tenant.
Expansion
Abcam - Dedicated to building a catalog of the best antibodies in the world expanded into a 4,304 square foot space. Mark Cote of T3 Realty represented the tenant.
Robert Doherty, Vice President of Leasing and Brokerage with The Beal Companies commented, "We are delighted by the recent lease activity at One Kendall Square. These new deals underscore the strength and vibrancy of the East Cambridge lab and office market. Tenants seeking well located, competitively priced laboratory and office space featuring an abundance of amenities and ample garage parking, will love what One Kendall has to offer."
About the Beal Companies, LLP
The Beal Companies, LLP is a Boston-based Real Estate Investment Firm actively pursuing investments in all segments of the Real Estate Industry throughout the country. Activities include the Acquisition and Development of Commercial, Historic and Residential Properties, Asset Management for The Beal Companies, LLP and others, Brokerage and Consulting, Appraisal and Tax Assessment, as well as Financing and Construction Management Services.
About Rockwood Capital
Rockwood Capital is a privately held real estate investment company that has consistently produced superior results for its institutional and high net worth clients through a combination of hands-on real property expertise, a strategic investment approach to value and trends across markets and property types, and innovative capitalization techniques.